Live Video Streaming App 'Live.ly' Reaches #1 Spot in App Store

New live streaming app Live.ly has shot to the top of the App Store, beating regular jostlers Facebook Messenger, Snapchat, and Instagram to the coveted #1 ranking in the Top Free iPhone Apps chart (via TechCrunch).

Live.ly lets users broadcast video of what they are doing in real time, and has received over half a million downloads since its full rollout last Thursday.

The app's popularity follows the success of musical.ly, an app by the Shanghai company of the same name which lets users create music videos. Musical.ly has seen 100 million downloads by mostly U.S. teenagers since it launched last year.

"We want to thank the musical.ly community for embracing live.ly as an exciting new platform and canvas for creativity and self-expression," Alex Zhu, co-CEO of musical.ly, told TechCrunch. "The fact that this comes almost one year after musical.ly hit #1 on the same chart makes the news even more exciting."

Competition for the mobile live streaming space has been hotting up in recent months, with Facebook Live and Twitter's Periscope gaining increasing popularity. The services have been used to document a variety of sporting and political events, such as NBA Final press conferences and the recent sit-in at the House of Representatives.

Last week, Google also threw its hat into the ring, announcing it was rolling out support for the feature through its YouTube mobile app.